Changes to the RICMS/SP: ICMS credit 2023

Changes to the RICMS/SP: ICMS credit 2023

The Brazilian tax landscape is renowned for its complexity and constant changes. Recently, the state of São Paulo implemented a modification to the ICMS (Tax on the Circulation of Goods and Services) Regulations, which significantly impacts the ICMS credit for companies that purchase goods from suppliers opting for Simples Nacional. In this article, we will explore these changes and understand how they affect business operations.

Until recently, the state of São Paulo allowed companies the right to ICMS credit on purchases of goods intended for industrialization or commercialization, when these goods came from suppliers who opted for Simples Nacional. This entitlement was calculated based on the value and ICMS rate highlighted in the supplementary information field of the invoice.

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What has changed in the ICMS

with the publication of Decree 67.975/2023, which brought significant changes to the regulations. The main aim of these changes is to bring the state of São Paulo into line with the resolution of the Simples Nacional Management Council and to establish clearer rules for calculating ICMS credits.

The main change brought about by the decree is that the right to ICMS credit is now conditional on the value and rate highlighted in the specific fields of the invoice. This means that the value of the ICMS credit can no longer be calculated on the basis of the additional information on the invoice, as was previously the case.

The specific fields of the invoice that must be observed when calculating the ICMS credit are:

• vCredICMSSNIn this field, you must enter the amount of ICMS credit that can be used in accordance with article 23 of Complementary Law 123/2006.
• pCredSNThis field is used to inform the applicable rate for calculating the credit.

This change aims to bring more clarity and transparency to the ICMS credit calculation process, as well as ensuring that the benefit is applied in accordance with the rules in force.

It is important to note that the changes brought about by Decree 67.975/2023 have a direct impact on the operations of companies that purchase goods from suppliers opting for Simples Nacional in São Paulo. It is therefore essential that companies are aware of these changes and adjust their internal procedures in accordance with the new rules to avoid tax problems in the future.

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Conclusion 

In summary, the changes to the ICMS regulations in São Paulo are intended to bring the state into line with the Simples Nacional rules and establish clearer criteria for calculating ICMS credits. As always, it is essential that companies are up to date with the changes in tax legislation and have the support of specialized professionals to ensure compliance with tax obligations.

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